Division of Revenue Act, 2012 (Act No. 5 of 2012)Chapter 1 : Interpretation and Objects of Act2. Objects of Act |
The objects of this Act are to-
| a) | provide for the equitable division of revenue raised nationally among the three spheres of government; |
| b) | promote predictability and certainty in respect of all allocations to provinces and municipalities, in order that provinces and municipalities may plan their budgets over a multi-year period and thereby promote better coordination between policy, planning and budgeting; and |
| c) | promote transparency and accountability in the resource allocation process, by ensuring that all allocations are reflected on the budgets of provinces and municipalities and by ensuring that the expenditure of conditional allocations is reported on by the receiving provincial departments and municipalities. |